Federated Hermes Inc. Invests $758,000 in Bausch Health Cos Inc. (NYSE:BHC)

Federated Hermes Inc. purchased a new position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 117,170 shares of the company's stock, valued at approximately $758,000.

A number of other hedge funds have also made changes to their positions in the stock. Toronto Dominion Bank lifted its position in shares of Bausch Health Cos by 1.0% in the fourth quarter. Toronto Dominion Bank now owns 167,212 shares of the company's stock worth $1,350,000 after purchasing an additional 1,712 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Bausch Health Cos by 7.9% in the fourth quarter. Wells Fargo & Company MN now owns 25,907 shares of the company's stock valued at $209,000 after acquiring an additional 1,896 shares during the last quarter. American Century Companies Inc. lifted its stake in Bausch Health Cos by 10.6% in the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company's stock valued at $220,000 after acquiring an additional 2,600 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Bausch Health Cos by 244.2% in the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock valued at $27,000 after acquiring an additional 3,001 shares during the last quarter. Finally, Viewpoint Capital Management LLC lifted its stake in Bausch Health Cos by 27.0% in the first quarter. Viewpoint Capital Management LLC now owns 24,000 shares of the company's stock valued at $155,000 after acquiring an additional 5,100 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bausch Health Cos

In other news, Director John Paulson purchased 3,564,059 shares of the company's stock in a transaction dated Friday, June 13th. The shares were bought at an average price of $5.94 per share, with a total value of $21,170,510.46. Following the completion of the transaction, the director directly owned 32,791,702 shares in the company, valued at $194,782,709.88. This trade represents a 12.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 6,352,667 shares of company stock valued at $35,870,767 over the last 90 days. Company insiders own 8.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHC. Wall Street Zen upgraded shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada lifted their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd.

Bausch Health Cos Trading Down 0.1%

NYSE:BHC opened at $5.76 on Friday. Bausch Health Cos Inc. has a 12 month low of $4.25 and a 12 month high of $9.85. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 22.14 and a beta of 0.41. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 141.90. The company's 50 day moving average is $6.08 and its 200-day moving average is $6.05.

Bausch Health Cos (NYSE:BHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). Bausch Health Cos had a net margin of 0.99% and a negative return on equity of 852.36%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. Equities analysts anticipate that Bausch Health Cos Inc. will post 4.41 EPS for the current year.

About Bausch Health Cos

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.

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